Peoples Bancorp Of North Carolina ( (PEBK) ) has provided an update.
Peoples Bancorp of North Carolina, Inc. and Peoples Bank have named William D. Cable, Sr. as the new President and CEO, with an enhanced employment agreement from September 19, 2024, including a salary increase to $365,000 and performance-based annual incentives. Additionally, the Bank has amended its salary continuation agreements, notably increasing retirement benefits for both Mr. Cable and CFO Jeffrey N. Hooper, with Cable set to receive $130,000 annually for 13 years, then $23,500 for life, and Hooper’s benefits going up to $75,000 annually for 13 years.
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